Excess liquidity is the quiet enemy of a young currency. Money sitting idle in transactional accounts is money that can pivot to the parallel market the moment confidence slips, and Zimbabwe has watched that pivot undo more than one stabilisation effort. The 2026 Monetary Policy Statement answers with a tool built precisely to absorb that restlessness: a ZiG-denominated term-deposit facility with a minimum tenor of 90 days, designed to reward savers and pull surplus liquidity out of circulation.

The mechanism is simple and well understood. A term deposit locks money for a fixed period in exchange for a return, taking it off the table for spending or conversion while it sits. By setting a 90-day floor, the RBZ is not chasing overnight balances; it is asking holders of ZiG to commit for a quarter, and in doing so it shrinks the pool of hot money that pressures the exchange rate. The detail of the savings-focused liquidity facility signals a central bank trying to build a savings culture in a unit that has had little reason to inspire one.

For a Harare business with idle ZiG balances, the facility offers something genuinely new: a sanctioned place to park local currency for a defined term rather than racing to spend it before it loses ground. That only works if the return on offer outpaces the erosion savers fear — and the facility’s success will be judged on exactly that test in the months ahead. Liquidity mopped up today is inflation not financed tomorrow.